Remote Grocery Store Banks

As the next step in supermarket banking, the Canadian Imperial Bank of Commerce is installing free standing "pavilions" on the premises of stores. Explains one bank officer, "They are remote banking service with a grocery store base."

There will be a sales assistant to show how to use the remote facility, which houses ATMs, personal computers with Internet access and telephone stations. But there will be no loan applications taken or new accounts opened as in traditional full-service supermarket branches.

Canadian Imperial expects to open 133 of these pavilions. They will offer free transactions, and the chance to earn points towards groceries.

Copyright © 1998 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 8, No. 9, 9/98